FISCAL BLOG

Defense spending by the United States accounted for nearly 40 percent of military expenditures by countries around the world in 2022.

The percentage of income that Americans pay in taxes can vary widely and depend on many factors.

This piece examines spending on veterans within the budget and outlines the factors that have pushed it higher in recent years.

Compared to historical trends and other advanced economies, corporate tax revenues in the United States are low.

Many options exist to reduce the imbalance between spending and revenues, including additional taxes on wealthier Americans.

Healthcare spending in the United States totaled 18.3 percent of gross domestic product (GDP) in 2021.

The United States has one of the most expensive health systems in the world.

Today, the Social Security and Medicare Trustees released their annual reports on the programs’ financing, showing that the future of these vital programs remain at risk.

Without reform, Medicare spending will continue to rise over the coming years — threatening the HI Trust Fund and placing immense pressure on the federal budget.

Without reform, the Social Security Trust Funds will soon be depleted and unable to pay full benefits.